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...retail economy. Everyone from fashion designers to cosmetics companies to small-town malls is praying that Lundgren's strategy works. Department stores have struggled for years: they've cut service, cut prices, cut inventory and still lost customers to cheaper (Wal-Mart) or more stylish (Kohl's, Target) discounters and to specialty stores (Nordstrom) with top-end service. Millions of Americans, especially in the nation's midsection, will soon have their first chance to shop at Macy's. The company now has to give them a reason...

Author: /time Magazine | Title: Department-Store Superstar | 2/6/2006 | See Source »

...most successful retailers have found their footing by focusing on one slice of the market. Luxury purveyors like Neiman Marcus, Nordstrom and Bloomingdale's (the only other brand that will stay in Federated's portfolio) have boosted profit margins by catering to the affluent. Discounters like Wal-Mart and Target have captured the bargain hunters. The stores that tried to appeal to a broad middle-income audience, as Macy's hopes to, have struggled. Former No. 1 retailer Sears merged with former No. 1 discounter Kmart to try to right two listing ships. Saks, a luxury icon suffering from mismanagement...

Author: /time Magazine | Title: Department-Store Superstar | 2/6/2006 | See Source »

...Newark, N.J., provided Harvard (0-6, 0-1 Hay) with a chance to evaluate how well it would match up against its conference rivals in the weeks to come.Sophomore Brian Rapp filled in at setter again for the Crimson, racking up 60 assists in the two contests. His favorite target was senior opposite hitter Seamus McKiernan, who registered 29 kills on the weekend to earn a spot on the All-Golden Dome Classic squad.But the Crimson offense sputtered in both matches, only managing to hit above .200 in one game all weekend.“Most of the problems were...

Author: By Karan Lodha, CRIMSON STAFF WRITER | Title: Men's Volleyball Remains Winless in '06 | 2/6/2006 | See Source »

...sixteen Israeli jets-F-16 fighters and F-15 bomber escorts-skimmed low across the desert, flying in tight formation to evade radar. At 5.35 p.m., as the heat of the June day was starting to ebb, they reached their target just south of Baghdad. By the time Iraqi anti-aircraft defenses opened up, it was too late. In fewer than 90 seconds, the Israeli planes had destroyed the reactor and turned safely for home. "We had a huge responsibility towards our country and our people," says Ze'ev Raz, the pilot who led the raid on Iraq's nuclear...

Author: /time Magazine | Title: An Israeli Attack Against Iran? | 2/6/2006 | See Source »

...Israel certainly has the ability to target Iran, with an estimated 100 to 200 nukes of its own (though Tel Aviv refuses to confirm a nuclear weapons program at all). But taking out Iran's nascent weapons factories will take a lot more than a single bombing raid or a few missiles. Drawing the obvious lesson from the attack on Osirak, Iran's leaders have spread their country's nuclear facilities between at least 20 known sites and buried many of them deep underground. Inflicting serious damage would require multiple surgical air strikes. "We are speaking about a large program...

Author: /time Magazine | Title: An Israeli Attack Against Iran? | 2/6/2006 | See Source »

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